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Computacenter upgrades forecasts but warns on 2018 results

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IT consultancy Computacenter has lifted its expectations for its 2017 performance for a fourth time, but warned that 2018 may not be quite so profitable.

The FTSE 250 company has benefited from customers investing in digitalising their businesses over the past year. Computacenter said that it expected its pre-tax results for 2017 to be ahead of its upgraded forecast in November.

The company said that “2017 was clearly a year of great progress for the group as customers continue to invest in new IT infrastructure” to enhance their “customer experiences”.

Computacenter, which advises companies on IT strategy and manages their technology infrastructure, said revenue increased by 17pc, or £548m in 2017. That was driven by a 19pc revenue uplift in its supply chain business, which helps companies with procuring and setting up IT systems. Meanwhile, revenue from its other services was up 11pc, according to a trading update.

In the UK, Computacenter’s revenue climbed 9pc. It also saw strong growth in Germany and France.

The company said that, while it believed that the “positive momentum” in the market would continue into this year, it faced some one-off costs and investments that would “hold back the enhancement of profitability in 2018”, which would not be repeated in 2019. It expects “stable profitability” this year.

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